A strong jobs report offset news of growth in the trade deficit Wednesday, allowing U.S. retail stocks to eke out small gains in a short trading day ahead of the July 4 holiday weekend.The S&P 500 Retailing Industry Group managed to add 0.1 percent, or 0.95 points, to close at 801.26 Wednesday. That was weaker than the Dow Jones Industrial Average’s 0.4 percent, or 56.14 point, advance to 14,988.55. The Dow briefly scaled the 15,000 mark late in the morning before retreating just shy of it at the 1 p.m. close.The S&P 500 was essentially flat, ending the day up less than 0.1 percent at 1,615.41.U.S. equities were lifted by the ADP National Employment Report showing that private employers added 188,000 jobs in June, better than the 160,000 expected by analysts and well above the 134,000 positions added in May. Weekly jobless claims fell 5,000 to a seasonally adjusted 343,000, according to the Labor Department. Wall Street is anxious to hear the government’s take on June employment, which is expected on Friday.Investors were initially bearish during Wednesday’s session as the nation’s trade deficit in May rose 12.1 percent to $45 billion, with a drop in exports and an increase in oil imports accounting for most of the widening in the gap.Among fashion, retail and beauty stocks, Delia’s Inc. led gainers, advancing 6 percent to $1.06, followed by Christopher & Banks Corp., ahead 2.7 percent to $6.27. Revlon Inc. shares rose 2.7 percent to $23.24.Among the specialty retailers shedding at least 1 percent Wednesday were American Apparel Inc., down 2.2 percent to $1.81; Pacific Sunwear of California Inc., down 1.8 percent to $3.90, and L Brands Inc., down 1.2 percent to $49.20. Avon Products Inc. was down 1.6 percent to $20.94.European stock markets ended the day on a down note, led by the FTSE 100 in London, which slid 1.2 percent to 6,229.87.
The CAC 40 in Paris, meanwhile, fell 1.1 percent to 3,702.01, followed by the DAX in Frankfurt, down 1 percent to 7,829.32, and the FTSE MIB in Milan, off 0.5 percent to 15,282.81.The euro traded at $1.30 against the dollar, while the pound fetched $1.52 and the Swiss franc equaled $1.06.Retail and luxury stocks were mostly down, with exceptions including Mulberry Group, which advanced 4 percent to 9.24 pounds, and Tod’s, up 1.5 percent to 111.50 euros.Among the stocks that lost the most ground were Burberry Group, which sank 2.5 percent to 13.70 pounds; Brunello Cucinelli, down 3.4 percent to 20 euros; and Gemfields, off 2.8 percent to 0.22 pounds.
“I design by visualization. I see things, and most of the time they’re not practical to actually make, and what I’ve found here, it’s like anything’s possible. This is the first time that I’ve made a sole unit in two months. That process usually would take six, so here’s a difference,” said @virgilabloh of the first sneaker sample he created for @louisvuitton, pictured here. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion (📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim
“I genuinely fell in love with water, I fell in love with Fiji, I fell in love with the whole life that we lived for those few months,” says @mrsamclaflin of filming for his new movie “Adrift” with @shailenewoodley. The 31-year-old actor spoke with WWD about his upcoming projects, meeting Jamie Dornan and working with co-star Woodley. #wwdeye (📷: @jamstoker)
3 years ago, fans of the late singer Aaliyah started calling for a collaboration with @maccosmetics. With the strength of social media — including mock ups of products — 25,000 people signed a Change.org petition for a limited-edition collection, and MAC couldn’t ignore the buzz. Tomorrow, MAC will unveil MAC x Aaliyah, a tribute to the singer who passed away nearly 17 years ago. Head to our stories to preview the new collection, which was worked on by Aaliyah’s family and inspired directly by her makeup bag. #wwdbeauty
Artistic director @clarewaightkeller will be dedicating @givenchyofficial’s fall 2018 couture show in Paris on July 1 to house founder Hubert de Givenchy, who passed away in March at age 91. Givenchy said the collection would be “an homage to his iconic creations, technique, and personal lexicon” and a “celebration of his timeless elegance and grace.” Head to WWD.com to read more. #wwdfashion (📷: Delphine Achard)
La Double J made a name for itself with its vintage-inspired prints, but for resort, designer JJ Martin has ventured into new territory: enter rich jewel toned solids and decadent embellishment, in the form of appliqués, crystals and sequins. #wwdfashion #resort19 #ladoublej
This Just In: J. Crew Group has named Johanna Uurasjarvi as its chief design officer.
Uurasjarvi succeeds Somsack Sikhounmuong, who left the company last September. Tap the link in bio for the full report. #wwdnews
“She came into my hotel room and she was like, ‘I have Chanel and Christian Dior.’ She was like, ‘Chanel likes you.’ And I was like, ‘I’m going to start crying,’” breakout star Maddie Hasson tells WWD of her styling sessions Molly Dickson. “I really like classic, elegant things. I love the way Anna Wintour dresses.” Read more about Hasson’s role in @impulseseries on wwd.com. (📸: @jgreenery ) #wwdeye
@virgilabloh revealed he's working with Australian stylist and
Vogue Australia fashion director @christinecentenera for his debut @louisvuitton men's collection, which will be presented in Paris on June 21. Centenera met Abloh while both working with Kanye West, where she consulted on his all his runway collections since his debut spring 2012 women's wear show. Read the full story on WWD.com. #wwdfashion #wwdnews (📷: @asussmanphoto)